Cytokinetics (NASDAQ:CYTK) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of Cytokinetics (NASDAQ:CYTK) in a research report sent to investors on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $86.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Tuesday, January 21st. Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Cytokinetics Price Performance

Shares of CYTK opened at $42.76 on Friday. The firm has a 50-day simple moving average of $48.32 and a two-hundred day simple moving average of $52.34. The stock has a market cap of $5.05 billion, a PE ratio of -7.95 and a beta of 0.83. Cytokinetics has a 1-year low of $42.72 and a 1-year high of $81.36. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 6,342 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total value of $370,880.16. Following the completion of the transaction, the executive vice president now owns 113,878 shares in the company, valued at $6,659,585.44. This represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the sale, the director now owns 24,559 shares in the company, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,464 shares of company stock worth $2,025,686 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Cytokinetics in the fourth quarter valued at about $29,000. UMB Bank n.a. lifted its position in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. grew its stake in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 1,135 shares during the period.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.